1.1 Answer the following questions using the guidance found within International Accounting Standard 1(IAS1). 1.1.1 Explain the term total comprehensive income.(2 marks) 1.1.2 Outline the difference between the Nature method and Function method. (2 marks) 1.1.3 Summarise the concept of Going Concern as an underlying assumption when financial statements are prepared.(2 marks) 1.2 The following is the trial balance of Travel Bug Limited for the year ended December 2019: Additional Information: A. Rent income received in advance as on 31 December 2019 is R6000. B. Telephone expense prepaid as on 31 December 2019 is R4000. Telephone expenses are included in other expenses. C. Dividends of R30000 were declared on 31 December 2019. These have not yet been paid. D. Depreciation is distributed as follows: 60% on factory machinery(operations) 30% on company cars used by sales representatives 10% on office computers used for administrative purposes. E. Other expenses are allocated to the entity's core functions as follows: Operations 50% Distribution 30% Administration 20% F. There are no components of other comprehensive income. Additional Information: A. Rent income received in advance as on 31 December 2019 is R6000. B. Telephone expense prepaid as on 31 December 2019 is R4000. Telephone expenses are included in other expenses. C. Dividends of R30000 were declared on 31 December 2019. These have not yet been paid. D. Depreciation is distributed as follows: 60% on factory machinery(operations) 30% on company cars used by sales representatives 10% on office computers used for administrative purposes. E. Other expenses are allocated to the entity's core functions as follows: Operations 50\% Distribution 30\% Administration 20% F. There are no components of other comprehensive income. Required: Prepare the Statement of Comprehensive Income for the year ended 31 December 2019, using the function method and in accordance with IAS1 of International Financial Reporting Standards.(11 marks) 1.3 Perform the following calculations in relation to the preparation of Statement of Cash Flows. 1.3.1 Revenue from credit sales amounts to R345000. The opening and closing balances on accounts receivable are R185000 and 232000 . Calculate the cash received from customers for the direct method. (1 mark) 1.3.2 Cost of sales amounts to R700000. The opening and closing balances of inventory account are R200000 and R225000 respectively. The accounts payable account reflects the balances as follows: Opening balance R50000 Closing balance R35000 Calculate the cash paid to suppliers for the direct method. (2 marks)